Vaughan Nelson Investment Management L.P. trimmed its position in Arthur J. Gallagher & Co. (NYSE:AJG – Free Report) by 2.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 207,881 shares of the financial services provider’s stock after selling 4,947 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.10% of Arthur J. Gallagher & Co. worth $39,769,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Mawer Investment Management Ltd. raised its position in shares of Arthur J. Gallagher & Co. by 8.2% in the 1st quarter. Mawer Investment Management Ltd. now owns 1,053,768 shares of the financial services provider’s stock worth $201,596,000 after acquiring an additional 79,414 shares in the last quarter. Renasant Bank acquired a new position in Arthur J. Gallagher & Co. in the first quarter valued at approximately $232,000. Versor Investments LP grew its position in shares of Arthur J. Gallagher & Co. by 202.4% during the 1st quarter. Versor Investments LP now owns 10,329 shares of the financial services provider’s stock worth $1,976,000 after buying an additional 6,913 shares during the period. Gilbert & Cook Inc. increased its stake in shares of Arthur J. Gallagher & Co. by 1.3% in the 1st quarter. Gilbert & Cook Inc. now owns 4,403 shares of the financial services provider’s stock valued at $842,000 after acquiring an additional 55 shares in the last quarter. Finally, Premier Fund Managers Ltd acquired a new position in shares of Arthur J. Gallagher & Co. during the 1st quarter valued at $47,409,000. Institutional investors and hedge funds own 85.55% of the company’s stock.
Insider Activity at Arthur J. Gallagher & Co.
In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 3,204 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $217.62, for a total value of $697,254.48. Following the transaction, the chief accounting officer now directly owns 37,285 shares of the company’s stock, valued at approximately $8,113,961.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Arthur J. Gallagher & Co. news, Director Sherry S. Barrat sold 2,330 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $215.00, for a total transaction of $500,950.00. Following the transaction, the director now owns 18,808 shares in the company, valued at approximately $4,043,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Richard C. Cary sold 3,204 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $217.62, for a total transaction of $697,254.48. Following the sale, the chief accounting officer now owns 37,285 shares of the company’s stock, valued at $8,113,961.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,284 shares of company stock valued at $1,976,237. Insiders own 1.60% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Citigroup upped their price objective on shares of Arthur J. Gallagher & Co. from $247.00 to $250.00 and gave the company a “buy” rating in a report on Friday, July 28th. StockNews.com started coverage on shares of Arthur J. Gallagher & Co. in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Raymond James raised their price objective on shares of Arthur J. Gallagher & Co. from $245.00 to $255.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Evercore ISI boosted their target price on shares of Arthur J. Gallagher & Co. from $231.00 to $233.00 in a research report on Friday, June 16th. Finally, Royal Bank of Canada lifted their price target on Arthur J. Gallagher & Co. from $225.00 to $230.00 in a research note on Friday, April 28th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $229.08.
Arthur J. Gallagher & Co. Stock Performance
Shares of Arthur J. Gallagher & Co. stock traded down $1.39 during trading hours on Friday, reaching $220.81. The company had a trading volume of 1,003,900 shares, compared to its average volume of 883,925. The firm has a market cap of $47.31 billion, a PE ratio of 43.31, a price-to-earnings-growth ratio of 2.04 and a beta of 0.70. Arthur J. Gallagher & Co. has a one year low of $167.93 and a one year high of $226.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.06. The business has a fifty day simple moving average of $212.77 and a 200 day simple moving average of $202.39.
Arthur J. Gallagher & Co. (NYSE:AJG – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.04. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Arthur J. Gallagher & Co. had a return on equity of 18.65% and a net margin of 12.11%. The company’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.70 earnings per share. On average, analysts anticipate that Arthur J. Gallagher & Co. will post 8.74 earnings per share for the current fiscal year.
Arthur J. Gallagher & Co. Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, August 31st. Arthur J. Gallagher & Co.’s dividend payout ratio is currently 42.88%.
Arthur J. Gallagher & Co. Profile
Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to businesses and organizations worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Arthur J. Gallagher & Co., you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Arthur J. Gallagher & Co. wasn’t on the list.
While Arthur J. Gallagher & Co. currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s guide to investing in 5G and which 5G stocks show the most promise.
